The second-quarter dividend equates to an annual dividend of $2.34 per share. The REIT's directors also approved a cash dividend of 21.56 per share of Highwoods' series A cumulative redeemable preferred stock. That dividend will be paid Aug. 31 to holders on Aug. 15.

On its series B cumulative redeemable preferred stock, Highwoods is paying a dividend of 50 cents per share on Sept. 17 to holders on Sept. 4. Highwoods is also paying 50 cents per share on each depositary share that represents 1/10th of an 8% series D cumulative redeemable preferred share. The dividend will be paid Oct. 31 to holders on Oct. 1.

Highwoods owns or has an interest in 589 office, industrial, retail and service center properties totaling 46 million sf; and controls 1,700 acres of developable land throughout the United States. That 46 million-sf volume also comprises 25 development projects totaling 2.8 million sf and `1,141 apartment units.